STC Business Partners with Ateon to Accelerate Digital Transformation in Saudi Arabia

July 07, 2018

The kingdoms’ ICT leader Saudi Telecom Company () represented by the Enterprise Business Unit, signed a memorandum of understanding with (An Alhamrani Group FinTech Company), as part of its ongoing efforts to utilize the latest technologies to drive the innovation in the FinTech sector.

Riyadh S. Muawad, Vice President of Key Accounts at STC Business signed the memorandum with Mansour Abdulkhaliq Alghamdi, Vice Chairman at Alhamrani Group on behalf of the Group’s CEO, Sheikh Abdulaziz Abdullah Alhamrani. Riyadh clarified that “Fully aligned with the Kingdom’s Vison 2030, we are always open to adopt and accelerate cutting-edge technologies and specifically Blockchain is one of the key transformational technology which is going to disrupt the status quo and transform all businesses and governments”.

Saud A. AlSheraihi, General Manager of Business Development at STC Business added “The emerging technologies continuously disrupt the way that we do business, we believe that Blockchain technology has the key to address many challenges that different sectors have, where financial sector ranks among the top. Partnering with Ateon, a local Blockchain solutions provider and systems integrator, unlocks the potential to provide innovative solutions tailored for the market”.

Dr. Husam Yaghi, Ateon’s President described the importance of the partnership by stating “this partnership is of vital importance due to depth STC offers through its diversified ICT portfolio. As leaders in the local FinTech and Blockchain space, our enterprise solutions are already helping global financial institutions and banks to become an early adopter of the Blockchain technology”. “This MOU kicked off our collaboration with STC to offer Blockchain solutions for every business segment across Saudi Arabia.”, he added.

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